Business

Telstra’s Journey to Success through Reinvention

In a world where tech industries are expanding and swooping in on the customer pools of media and Telecommunications Company, adaptation is the name of the game. Telstra partially owes its humongous success to its continuous adaptations to the changing industry to stay relevant in the business. Ever since Telstra’s ex-chief executive David Thodey was in charge of the company’s operations, he knew that reinvention was inevitable if the company was to survive and proliferate in the market. Telstra has since then been innovating continuously in one way or another, maintaining their stronghold in the internet and TV service industry.

How it all began

The Australian Federation led to the formation of Postmaster-General’s Department in 1901 which dealt with the country’s telecommunication services. By 1975, individual commissions had replaced Postmaster-General’s Department. The Australian Telecommunications Commission which dealt with telecommunication services of the country was reconstituted as Australian Telecommunications Corporation by 1989.

The Australian Telecommunication Corporation was then merged with Overseas Telecommunications Commission to form the Australian and Overseas Telecommunications Corporation which was renamed to Telstra in 1993. At one point, Telstra was in charge of the fixed line telephone network which became the property of the Australian government later. Telstra has maintained its resourceful reputation for the government. Throughout the company’s development, it has undergone 3 successive privatisations and today, Telstra is the most widely held Australian Stock Exchange listed company.

Reinvention and progress

Telstra has made significant acquisitions to remain relevant and impactful in the industry. Take its $11 billion deal with the government for example. Telstra’s bold move to sells its copper and coaxial network to NBN Co which is an Australian government owned telecommunications company, single-handedly granted Telstra billions of dollars in resources. This permits telstra to remain competitive in offering nbn broadband services to Australia. Telstra has made some important investments in the past as well.

Telstra acquired Bridge Point which is a security company that provides data management solutions which benefited Telstra because it helped the company’s security and growth.

Telstra has also bought the all popular Silicon Valley based electronic signature software called DocuSign. Additionally, they increased their share of Ooyala from 23% all the way up to 98%. It is apparent that Telstra has taken an aggressive approach to taking over the shifting dynamic telecommunications market and it’s not just the acquisitions involving established companies that Telstra has targeted. Telstra has also focused on start-ups with programs like Muru-D. Not only does their focus on start-up companies grant them greater success in future but is also healthy for new secondary companies.

Furthermore, Telstra’s vision encompasses the country’s anticipated problem of increasing chronic diseases by investment in health care. A $100 million have been invested by Telstra into its new division of healthcare business that connects patients with their doctors. The technology provides health appointments and e-prescription. For Telstra, it is not just about expanding infrastructure anymore, it’s about innovation, reinvention and transformation of the old infrastructure. You may be pleased to know that Tesla will be launching a nationwide Wi-Fi network with over 2 million hotspots across Australia. The $100 million investment will be looking to convert Tesla’s payphone location into hotspots. This smart thinking will help launch the new hotspots with ease at a reduced cost too.